Question: John decides to start saving money for a new car. He knows he can invest money into an account which will earn 6.5% APR, compounded
John decides to start saving money for a new car. He knows he can invest money into an account which will earn 6.5% APR, compounded weekly, and would like to have saved $10,000 after 5 years. Determine the 5-year percent change for the account.
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To solve the problem we will calculate the future value of the account using the compound interest f... View full answer
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